Cibc World Market Inc. Purchases Shares of 500,000 Avis Budget Group, Inc. $CAR

Cibc World Market Inc. acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 500,000 shares of the business services provider’s stock, valued at approximately $73,915,000. Cibc World Market Inc. owned 1.42% of Avis Budget Group at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CAR. BlackRock Inc. acquired a new position in shares of Avis Budget Group in the second quarter valued at $245,413,000. UBS Group AG lifted its position in Avis Budget Group by 37.3% in the fourth quarter. UBS Group AG now owns 2,964,807 shares of the business services provider’s stock worth $380,444,000 after purchasing an additional 804,814 shares during the period. Morgan Stanley boosted its stake in Avis Budget Group by 38.1% during the fourth quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider’s stock worth $253,519,000 after buying an additional 545,574 shares in the last quarter. Norges Bank acquired a new stake in Avis Budget Group during the fourth quarter worth $45,900,000. Finally, Bank of Nova Scotia bought a new stake in Avis Budget Group in the 2nd quarter valued at $46,701,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group News Roundup

Here are the key news stories impacting Avis Budget Group this week:

• Positive Sentiment: Long-term earnings estimates improved. Zacks Research raised its FY2027 EPS forecast to $5.38 from $4.66 and its FY2028 forecast to $8.76 from $6.66. It also increased several 2027–2028 quarterly estimates, suggesting potential earnings recovery over the longer term. However, Zacks continues to rate Avis Budget Group “Strong Sell.” Zacks Research estimate changes
• Neutral Sentiment: Class action targets Pentwater and its executives. Multiple law firms reported that a securities lawsuit was filed in federal court on behalf of investors who purchased CAR securities between February 20, 2025, and April 21, 2026. The complaint alleges securities-law violations connected to Pentwater Capital Management’s trading in Avis shares; the case seeks damages for investors and does not represent a new operating announcement from Avis. The lead-plaintiff deadline is September 29, 2026. Pomerantz class action filing
• Negative Sentiment: Repeated legal alerts add headline and litigation risk. Investor-rights firms are encouraging shareholders to seek lead-plaintiff status, alleging that a large Pentwater share sale and related trading activity harmed CAR investors. The repeated announcements can pressure sentiment and increase uncertainty around Avis’s investor relations, even though the allegations are unproven and the claims primarily name Pentwater and its leadership. Kahn Swick & Foti legal notice
• Negative Sentiment: Near-term earnings expectations remain weak. Zacks cut its FY2026 EPS forecast to $1.35 from $2.33 and lowered Q3 2026 estimates modestly. This follows Avis’s recent quarterly EPS and revenue miss, reinforcing concerns about volatile profitability and keeping the stock’s broader fundamental outlook under pressure.

Avis Budget Group Stock Performance

CAR opened at $146.61 on Monday. The firm’s 50-day simple moving average is $157.08 and its 200-day simple moving average is $169.44. Avis Budget Group, Inc. has a twelve month low of $85.96 and a twelve month high of $847.70. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -8.07 and a beta of 1.92.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, July 28th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($1.07). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.10 billion. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. As a group, sell-side analysts anticipate that Avis Budget Group, Inc. will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “sell” rating in a research note on Friday, July 24th. Jefferies Financial Group downgraded Avis Budget Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $112.00 to $160.00 in a report on Friday, May 1st. Morgan Stanley upped their price objective on Avis Budget Group from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on Avis Budget Group from $155.00 to $170.00 and gave the stock an “underweight” rating in a report on Tuesday, June 23rd. Finally, Zacks Research downgraded Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $135.57.

Avis Budget Group Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.